Economic freedom strongly tied to success: EuroCham
Vietnam's economic success story has been closely associated with improved economic freedom, which will likely remain a strong driving force for the country's socio-economic development in the future, said policymakers and experts during a conference organised by the European Chamber of Commerce in Vietnam (EuroCham) in Hanoi on September 22.
Dr. Rainer Zitelmann speaks on the topics business and wealth in Vietnam at a EuroCham conference held in Hanoi on September 22. (Photo: VNA)
Hanoi (VNS/VNA) - Vietnam's economic success storyhas been closely associated with improved economic freedom, which will likelyremain a strong driving force for the country's socio-economic development inthe future, said policymakers and experts during a conference organised by theEuropean Chamber of Commerce in Vietnam (EuroCham) in Hanoi on September 22.
Speaking to participants at the conference, Christian-Ludwig Weber-Lortsch,former Ambassador of Germany in Vietnam, said the Southeast Asian economy hasmade leaps and bounds in the last few decades with its open-market andbusiness-friendly policies. The former German ambassador said he has been impressed with theVietnamese spirit of competition and their strong will to move forward afterthe devastation of the war.
Dr. Rainer Zitelmann, researcher and recognised author on thetopic of wealth, said Vietnam has seen one of the most impressive gains ineconomic freedom among countries with a population of over 30 million aroundthe world since 1995.
He attributed the country's economic success, which has liftedmillions of Vietnamese out of poverty since the Doi Moi (Reform) in 1986,to the proliferation of private entrepreneurship, a free market, strong privateproperty rights and the Government's direction to lessen central economicplanning.
Zitelmann, who has travelled to many countries around the worldfor his research, said the Vietnamese, especially the young, are"particularly motivated to learn how to generate wealth".
"Among the 11 nations included in the study, Vietnam had morerespondents than any other nation stating who valued getting rich," hesaid.
Vietnam is the only country where more women (78%) than men (72%) said theywant to get rich, according to Zitelmann.
He added the Vietnamese generally view rich people with positivetraits such as being visionary and far-sighted, intelligent, bold, industriousand imaginative.
He urged, however, for the Government to not stray from the pathof success and continue to stay committed to market economy and economicfreedom.
Dr. Zitelmann has written 25 books, mostly on the topics ofbusiness and wealth. His works have been well-received in Asian countriesincluding China, India and the Republic of Korea. Two of his most well-knownbooks, “The Wealth Elite" and “The Rich in Public Opinion", have beenpublished in Vietnam./.
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Dr. Rainer Zitelmann speaks on the topics business and wealth in Vietnam at a EuroCham conference held in Hanoi on September 22. (Photo: VNA) 
